On Tuesday, Rio Tinto appointed Simon Trott, the current head of the iron ore division, as the new CEO to replace Jacob Storsholm, who unexpectedly announced his resignation in May of this year. Trott has been with Rio Tinto for 20 years, launched the largest new iron ore mine in over 10 years in Western Australia, and is developing a huge replacement plan in the state. He also served as the mining company's chief commercial officer from 2018 to 2021. Trott has faced resistance from investors because the quality of ore exported by Rio Tinto declined during his tenure, and it has been difficult for the miner to reach the upper limit of its production forecast.

On Tuesday, Rio Tinto appointed Simon Trott, the current head of the iron ore division, as the new CEO to replace Jacob Storsholm, who unexpectedly announced his resignation in May of this year. Trott has been with Rio Tinto for 20 years, launched the largest new iron ore mine in over 10 years in Western Australia, and is developing a huge replacement plan in the state. He also served as the mining company's chief commercial officer from 2018 to 2021. Trott has faced resistance from investors because the quality of ore exported by Rio Tinto declined during his tenure, and it has been difficult for the miner to reach the upper limit of its production forecast.